50x leverage means a 2% move wipes the position.
Instead of a trade it's more like a coin flip with a very fast expiry.
High leverage does not amplify conviction. It amplifies the cost of being wrong.
Hope it works out. 50x is... unforgiving.
A whale is betting $147 MILLION that the US stock market goes down and he's doing it at 50x leverage.
The S&P only has to rise about 2% and he loses everything.
The market doesn't need to crash on him. It just needs to tick up slightly and the whole thing is gone.
He's up $1.4 MILLION so far. His wipeout price is $8,067.
Some think the wallet is James Wynn. If it is, you already know how it ends.